PPP and Project Finance
Public-Private Partnerships (PPP) and other project financed transactions have in recent years considerably increased private sector´s participation in major infrastructure projects.
PPPs bring unique challenges related to the need to allocate and balance the risks between the public and private sectors; financing based on the project´s expected revenue streams; and the different private sectors interests involved. All this results in PPP structures that are complex to negotiate, set up and operate.
Our client base in the PPP & Project Finance sector comprises sponsors, lenders and contractors. In order to deliver efficient services to our clients our team includes professionals with specific expertise in the areas of public, corporate, tax, financial and contract law, who come into play depending on the specific characteristics of each project. Our attorneys have considerable in-depth knowledge of the PPP-related sectors, and some have previously served as in-house counsels for multilaterals, lenders and contractors. We advise clients in all stages of a project, including tender process, tax and contractual structuring, drafting and negotiation of contracts, and construction through to financing and operation. In addition to our PPP & Project Finance practice in Portugal, our experience has also led to requests for support on projects located in Angola, Mozambique, Timor-Leste, São Tomé and Príncipe and Guinea-Bissau. Our participation in such projects is in coordination with the offices of the Miranda Alliance. Our strong local presence in these jurisdictions gives us access to key local contacts, sponsors and decision-makers, ensuring that we can provide advice that is tailored to the particular characteristics of each jurisdiction.
- Structuring PPPs
- Preparing risk allocation matrix
- Assisting in public tenders
- Drafting project agreements (including By-Laws of SPV and shareholders agreements, concession agreements, EPC, O&M and PPA)
- Structuring and drafting finance documentation (including term-sheet, loan agreements, accounts agreements, share retention agreements and inter-creditor agreements)
- Structuring and drafting security package (including sponsor support agreements, direct agreements, pledge agreements and buy option agreements)
- Ownership/partnership planning, structuring and procurement strategies
- Assisting during operation as to contracts implementation and compliance